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Nigerian headline inflation soars y 12.56% in June 2020 ― NBS

Nigeria’s consumer price index (CPI) which measures inflation jumped by 12.56 per cent (year-on-year) in June 2020.

This is 0.16 per cent points higher than the rate of 12.40 per cent recorded in May 2020.

The National Bureau of Statistics (NBS), which made this known in its June inflation report released on Friday, said increases were recorded in all divisions that yielded the Headline index.

On month-on-month basis, the Headline index increased by 1.21 per cent in June 2020. This is 0.04 per cent rate higher than the rate recorded in May 2020 (1.17 per cent).

According to the report, the percentage change in the average composite CPI for the twelve months period ending June 2020, over the average of the CPI for the previous twelve months period was 11.90 per cent, representing a 0.11 per cent point increase from 11.79 per cent recorded in May 2020.